The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with individuals purporting to be associated with Just Global Markets (Pty) Ltd (JustMarkets), an authorised Financial Services Provider (FSP) (FSP 51114).
It has come to the FSCA’s attention that individuals are impersonating JustMarkets on the WhatsApp platform to solicit investments from members of the public. JustMarkets confirmed that it is not associated with the administrators of the WhatsApp group. The administrators of the WhatsApp group failed to respond to FSCA enquiries.
The public is strongly urged to exercise caution when considering unsolicited investment or trading offers, especially those communicated through social media. The public is urged to act with care when investing their funds. There are many fraudsters operating scams, and the number is growing. South Africans lose millions of rands every year to fraudsters.
Illegal operations are sometimes well-disguised as legitimate operations. The public is advised to be on the lookout for certain tell-tale danger signs when approached by persons offering attractive investment opportunities.